(a) The funds received from the collection of sanitary sewer TAP-IN FEES, and such other fees and charges as may be designated by Council, shall be deposited as received by the Finance Director, who shall keep the same in a separate fund designated SEWER TAP-IN FUND. Subject to the provisions of any ordinance or indenture of mortgage authorizing and securing the issuance of mortgage revenue bonds for the sewerage system, moneys in the fund shall be used for capital improvements for the system and works, and such other purposes permitted by R.C. § 729.52 and the Constitution of the State.
(b) The funds received from the collection of sanitary sewer USAGE RATES provided for in Section 923.17 et seq., and such other fees and charges as may be designated by Council, shall be deposited as received by the Finance Director, who shall keep the same in a separate fund designated SEWER OPERATING FUND. Subject to the provisions of any ordinance or indenture of mortgage authorizing and securing the issuance of mortgage revenue bonds for the sewerage system, moneys in the fund shall be used for the payment of the cost and expense of the operation, maintenance, repair and management of the system, and for the payment of debt charges on bonds issued for extensions and improvements of the system. Any surplus in the fund over and above the requirements before mentioned may be used for the enlargement and replacement of the sewerage system and works, and such other purposes permitted by R.C. § 729.52 and the Constitution of the State.
(Ord. 1327. Passed 5-9-91; Am. Ord. 2124. Passed 7-11-02.)